505 Economists Urge President Obama to Nominate Janet Yellen as Chair of the Federal Reserve

WASHINGTON, Sept. 19, 2013 /PRNewswire-USNewswire/ -- A letter from more than 500 American economists urging President Obama to nominate Janet Yellen for Chair of the Board of Governors of the Federal Reserve System was officially submitted to the White House on September 18, 2013. These economists come from across the country, with 48 states and the District of Colombia represented, as well as 211 colleges and universities, and 25 institutes and businesses. The signers reflect a spectrum of opinion from left to right, have different party affiliations, and come from a range of fields within the profession. The letter was circulated by economists Heidi Hartmann, president of the Institute for Women's Policy Research, and Joyce Jacobsen, dean of social sciences and Andrews Professor of Economics at Wesleyan University. Original signers include Alan Blinder, Lawrence Kotlikoff, Alice Rivlin, Christina Romer, David Romer, and Joseph Stiglitz, Nobel Laureate in Economics. Additional signers include other leading economists such as Ray Fair, James Hamilton, Olivia Mitchell, Robert Shiller, and Michael Woodford.

"All of us understand full well that the nomination is yours to make. In making that decision we would like you to have the benefit of our professional opinion that Janet Yellen is the person who would serve the nation best in this important role at a critical time for our country," the transmittal letter to the President reads.

The letter received media attention last week when it garnered 350 signatures in the first few days it was circulated. "We circulated the letter to show the breadth and depth of support for Janet Yellen in the economics profession," said Dr. Hartmann, a MacArthur Fellow for her work in labor economics. Dr. Jacobsen said, "I believed a significant number of economists wanted to support her candidacy and the response to the letter made that clear."

The Institute for Women's Policy Research (IWPR) is a 501(c)(3) tax-exempt organization that conducts rigorous research and disseminates its findings to address the needs of women and their families, promote public dialogue, and strengthen communities and societies.